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Serica Energy Provides Update on UK Operations

Source: www.gulfoilandgas.com 3/9/2018, Location: Europe

Serica Energy, an independent oil and gas company with production, development and exploration licence interests in the UK North Sea and exploration interests in Ireland and Namibia, has provided an operations update.

UK North Sea Erskine Field

As announced on 22 January and 29 January a blockage occurred on the Lomond to Everest condensate export pipeline during routine cleaning operations. Following deployment of specialist pumping equipment, some communication across the blockage has been achieved and the plan is to continue with pressure pulsing until significant breakthrough. In parallel, a permanent solution to the pipeline wax problem is being advanced. Further updates will be made in due course.

UK North Sea Bruce, Keith and Rhum Fields

Since restart in January, following the shut-down of the Forties pipeline, Bruce, Keith and Rhum fields (BKR) have produced on average approximately 16,000 boe/d net to BP. Serica has agreed to acquire BP's interests in these fields with an effective date of 1 January 2018. Subject to completion of the transaction, which is anticipated in the third quarter of 2018, Serica will receive 40% of the net cash flow for BKR in 2018, rising on a stepped basis to 100% in 2022. Commodity prices for the year to date have been stronger than seen in recent years, with NBP gas pricing averaging 52p/therm and Brent oil pricing averaging $67.50/barrel.

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Related Articles: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 


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